First Independent Mena Newspaper
Governor of Bank Al-Maghrib (BAM), Abdellatif Jouahri, was named “Best Central Banker in Africa for 2024” by the London-based financial and international affairs magazine “The Banker”, affiliated to the “Financial Times” group. The Banker’s Central Banker of the Year 2024 awards celebrate the officials who have best managed to stimulate growth and stabilize their economy. […]
Emerging and frontier markets in Africa now have a reason for cautious optimism in 2024 following a recent announcement by The Federal Reserve (Fed) signaling possible cuts of up to 75 basis points in the coming year. New forecasts from central bank officials showed a turn from the hawkish rate environment Fed Chairman Jerome Powell […]
The governor of the Central Bank of Seychelles (CBS) Caroline Abel, will leave her position in March 2024 when her contract ends. C. Abel made the announcement during the CBS press conference on the monetary policy for the upcoming three months, State-run news agency reports. “Today is my last press conference as governor of the […]
Morocco cut its trade deficit by 7.6% in November thanks to higher exports of the automotive sector and lower energy prices. Morocco’s imports stood at 653 billion dirhams, down 3.3%, while its exports remained almost stable at 392 billion dirhams. A drop in phosphates and by product sales was compensated by an improvement in sales […]
The European Investment Bank will support Morocco’s Forest Strategy 2020-2030 with €100 million under a financing agreement signed in Rabat on Thursday Dec. 28. The agreement, which falls in the frame of cooperation between Morocco and the EIB and which spans the period from 2024 to 2028, focuses on climate change adaptation, biodiversity promotion, and […]
As Kenya is moving closer to sealing an Economic Partnership Agreement (EPA) with the European Union, the East African economic powerhouse has also announced the possibility of a $1bn loan from China that could be used to help pay off a $2bn Eurobond repayment that is due in June next year. Kenya’s economic partnership deal […]
Morocco and the German Development Bank (KfW) on Wednesday formalized three loan agreements totaling 250 million euros and two grant agreements amounting to 7 million euros. The agreements are earmarked for financing three pivotal projects focused on social protection, sustainable mobility, and irrigation. These agreements were signed in Rabat by Fouzi Lekjaa, Minister in charge […]
The European Commission has approved a €177 million assistance for Morocco within the frame of the Integrated Program for the reconstruction and comprehensive upgrade of the disaster areas (2024-2028), which was drawn up by Moroccan authorities following the earthquake that struck Al Haouz on 8 Sept. 2023. Furthermore, in a joint effort between the EU […]
Canada’s development financial institution, Findev Canada, has approved recently a €20mln loan to the West African Development Bank destined to boost agri-food and renewable energy in West Africa. The loan is the very first agreement between the Canadian financial institution and the West African Development Bank. It will increase financing for agri-food businesses and the […]
Burundi and Belgium have sealed a deal worth €75 million covering five cooperation areas namely health, education, agriculture, climate change, and good governance, Cooperation ministry of the central African country said. Albert Shingiro, Burundi’s External Relations and International Cooperation Minister, signed the deal with Belgium’s ambassador Michael Wimmer. The Belgian development agency, Enable, will implement […]